Massachusetts

BOSTON — Locally based developer Carpenter & Co. has completed the Four Seasons Hotel & Private Residences One Dalton Street, a 61-story tower located in Boston’s Back Bay neighborhood. Designed by Pei Cobb Freed and Cambridge Seven Associates, the building consists of 160 for-sale private residences that are situated atop 215 hotel rooms. Residential units include one-bedroom homes and duplex penthouses. Residents and guests have access to shared amenities such as a lounge, an indoor pool, fitness center, spa, yoga and Pilates studios, golf simulator room with a wet bar, theater and performance room, meeting facilities and a pet washing station. The building also houses three food and beverage concepts, including contemporary Japanese restaurant Zuma, craft cocktail bar Trifecta and One + One, a concept managed by Four Seasons.

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BOSTON — The Ritz-Carlton has reopened its 193-room hotel at 10 Avery St. in downtown Boston following Massachusetts Gov. Charlie Baker’s decision to lift COVID-19 restrictions in advance of Memorial Day. The reopening of the hotel includes the return of Artisan Bistro for breakfast and dinner service, as well as the hotel’s nine meeting rooms, including the 3,500-square-foot ballroom that overlooks the Boston Common. The hotel, which has been closed since March 20202, has added multiple cleaning stations, supplies and protocols for common areas and guestrooms. Guests and staff will be required to wear masks in all indoor public spaces. In addition to the aforementioned amenities, guests will also have access to the 114,000-square-foot Equinox Sports Club Boston that connects to the hotel.

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AUBURN, MASS. — Newmark has negotiated the sale of a 285,437-square-foot industrial property at 26 Southbridge St. in Auburn, located south of Worcester. The property was fully leased to locally based soft drink distributor Polar Beverages at the time of sale. Robert Griffin, Edward Maher, Tony Coskren, Matthew Pullen, Samantha Hallowell and Brian Pinch of Newmark represented the undisclosed seller in the transaction. The team also procured the buyer, Westbrook Partners. The sales price was not disclosed.

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GREENFIELD, MASS. — Northeast Private Client Group (NEPCG) has brokered the $12.7 million sale of Pine Ridge Estates, a 108-unit multifamily community in Greenfield, located in the northwestern part of the state. Built on 4.5 acres in 1972, the property features one- and two-bedroom units, as well as a fitness center and onsite laundry facilities. Brad Carlson, Taylor Perun and Drew Kirkland of NEPCG represented the seller and procured the buyer in the transaction. The asset traded at a cap rate of 5.6 percent.

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WESTBOROUGH, MASS. — KPM Analytics America, a Massachusetts-based manufacturer of agricultural instruments, has signed a 29,402-square-foot office lease at 8 Technology Drive in Westborough, about 35 miles west of Boston. Cushman & Wakefield represented the landlord, Feris Development Group, in the lease negotiations. John Eysenbach of R.W. Holmes Realty represented the tenant.

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SHREWSBURY, MASS. — Cornerstone Realty Capital has arranged a $53.3 million construction loan for Edgemere Crossing, a 250-unit multifamily project in Shrewsbury, located outside of Worcester. The property will consist of 116 one-bedroom units and 134 two-bedroom units that will be furnished with stainless steel appliances, granite countertops and vinyl plank flooring. Amenities will include a conference center, kitchen room, fitness center, dog park, pool and a resident clubhouse. The borrower, a joint venture between The Dolben Co. Inc. and Belmont Capital, expects to complete construction by the first quarter of 2023. The loan was structured with a floating interest rate, 36 months of interest-only payments and a 30-year amortization schedule.

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HUBBARDSTON, MASS. — Marcus & Millichap has brokered the sale of a self-storage development site in Hubbardston, about 45 miles west of Boston. The site is zoned for the development of 288 non-climate-controlled units totaling 47,800 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and the buyer, both of which requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

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FOXBOROUGH, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged a $4.7 million acquisition loan for a 64,319-square-foot office building in Foxborough, a southern suburb of Boston. The two-story building sits on 6.4 acres within Foxborough Business Center. Ted Sidel of EagleBridge Capital placed the debt through a New England-based financial institution on behalf of the undisclosed borrower.

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HUDSON, MASS. — JLL has negotiated the sale of Center at Hudson, an 85,000-square-foot shopping center in Hudson, about 30 miles west of Boston. A Stop & Shop grocery store anchors the property, which was 96 percent leased at the time of sale. Other tenants include Expo Nails, The Paper Store, Sperry’s Liquors and Eye Care Center. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction. The buyer was NNM Realty Trust, a regional owner-operator.

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SWANSEA, MASS. — Jacobson Properties has brokered the $9.2 million sale of the East Bay Ambulatory Care Building, a 23,072-square-foot healthcare building in Swansea, located in the southern part of the state. The property was fully leased to East Bay Surgery Center, which focuses on ophthalmology, and Steward Saint Anne’s Hospital Center for Pain Management. East Bay Surgery Center Real Estate LLC sold the property to an undisclosed national healthcare real estate firm. Lisa Menin of Jacobson Properties brokered the deal.

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